2. Legacy
What your family’s values are, and what
your family stands for is its legacy.
Now the question becomes – how does
this relate to the family business?
3. It may be an opportune time to consider
turning your business’ good fortune into a
family tradition that nurtures each generation
and develops a positive vision for the family
that goes beyond your family legacy.
You can do this by taking stock of what has
made you so successful. You will likely find
that your success – or your legacy --- is
sourced in your values, and your family’s
values.
Leveraging Your Family Business
4. Here’s one way to look at what you might build.
Imagine four pillars which are the foundation of
your family owned enterprise
Legacy Framework
5. Imagine four pillars which are the foundation of your family
owned enterprise.
Legacy Foundation
PhilanthropicLegacy
FinancialLegacy
FamilyLegacy
BusinessLegacy
6. Note that the two outside pillars, the Business and
Financial legacies, provide the financial strength that
supports the activities of the two inside pillars, where the
Family legacy and the Philanthropic legacy of the family are
found.
A Strong Foundation
Philanthropic
Legacy
FinancialLegacy
FamilyLegacy
BusinessLegacy
7. Recall we said that you already are in the
process of building your legacy by the work that
your business does?
Your Business Legacy is the cornerstone
of the family enterprise that generates the
family wealth
Business Legacy
8. Recall we said that you have had success
supporting your family?
Your Financial Legacy is the financial
security and management of assets outside
of your business
Financial Legacy
9. Recall we said that you are already in the
process of building your legacy by your values
and family name?
Your Family Legacy is where the family
comes from and where they are heading
together
Family Legacy
10. Recall we spoke about your values?
Your Philanthropic Legacy is the lasting
contribution your family makes by giving
back in a meaningful manner
Philanthropic Legacy
11. We invite you to use this
framework as you consider
intentionally building your family
enterprise legacy
Don’t forget to talk it
over with your family
– they probably have
some good ideas!
Resources